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Bangalore: Ola Electric Mobility Pvt Ltd’s new electric-scooter factory aims to manufacture 10 million two-wheelers annually or 15% of the world’s e-scooters by 2022, driven and managed entirely by women.
Led by Bhavish Agarwal, the e-mobility business is a follow-up to ride-hailing startup Ola, which is expected to make its debut in the public markets next year. The founder said the vision of his latest venture is to provide the world with “clean mobility, a carbon-negative footprint, and an inclusive workforce.”
The first group of workers began this week at the factory in Krishnagiri, about 2.5 hours southeast of Bangalore, which will cost $330 million to complete. “At full capacity, FutureFactory will employ more than 10,000 women, making it the world’s largest female-only factory and the only female automotive manufacturing facility globally,” she wrote in a blog on Monday.
Backed by SoftBank Group Corp and Tiger Global Management, Ola Electric is looking to roll out a scooter every two seconds after completing a planned expansion next year. The factory will be largely automated and will include 3,000 robots working with all-female employees.
Agarwal eventually aims to assemble a complete lineup of electric vehicles including three-wheelers and cars. Ola’s first S1 e-scooter to compete with conventional two-wheelers in India will cost Rs 99,999 ($1,360). Exports are to start later this year.
“Enabling women with economic opportunities improves not only their lives but also their families and indeed the entire community,” Agarwal said. The founder said in the blog, the participation of women in the local manufacturing industry is just 12% and “to make India the manufacturing hub of the world, we must prioritize upskilling and creating jobs for our female workforce.” –bloomberg
Read also: Microsoft invests $5 million in Oyo to develop AI-powered hotel technologies
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